Coronavirus: US Senate passes $2.2tn economic rescue package

Emergency relief worth more than half the nation’s annual budget — the largest of its kind in American history

The US senate has passed a $2.2 trillion (£1.85tn) emergency relief package that will provide support for American workers and businesses as the country battles the economic fallout from the coronavirus pandemic.

A unanimous vote for the aid bill was secured despite misgivings between Republican and Democratic senators over whether it goes too far or not far enough, and capped days of difficult negotiations in Washington.

The 880-page support package is the largest of its kind in US history, with its value equivalent to more than half of the nation’s annual budget.

Its passing comes as the US death toll surpassed 1,000 on Wednesday, while the number of confirmed cases rose to more than 68,000.

Upon announcing the vote, majority leader Mitch McConnell said: “Pray for one another, for all of our families, and for our country.”

House speaker Nancy Pelosi meanwhile said the bill “takes us a long way down the road in meeting the needs of the American people”.

The rescue package builds on efforts focused on vaccines and emergency response, sick and family medical leave for workers, and food aid.

It includes direct payments of $1,200 to individuals who earn $75,000 or less, while married couples with a household income of up to $150,000 would receive $2,400 and an additional $500 per each child.

The plan will also create a $500 billion lending program for businesses, cities and states and a $367bn fund for smaller companies. A total of $130bn will be made available for hospitals, while unemployment insurance has been extended.

Businesses controlled by members of Congress and top administration officials — including president Donald Trump and his immediate family members — would be ineligible for the bill’s business assistance.

The agreement was reached following a number of “twists and turns” in discussions, as senator Chuck Schumer, the chamber’s senior democrat, said on Wednesday.

A late speed bump saw Republican senators complain that the bill’s expansion of unemployment benefits provided “a strong incentive for employees to be laid off instead of going to work”.

Senator Bernie Sanders said he would oppose the bill unless the Republicans dropped their objections, threatening to push for tighter restrictions on corporate companies receiving aid from a taxpayer pool of $500bn.

The amendment was eventually put to senate but failed. Further revisions were made late into Wednesday before the bill was unanimously approved in a 96-0 vote.

Mr Trump said he would sign the bill as soon as it lands on his deck, before passing it to the House for a Friday vote.

“The legislation now before us now is historic because it is meant to match a historic crisis,” said Mr Schumer. “Our health care system is not prepared to care for the sick. Our workers are without work. Our businesses cannot do business. Our factories lie idle. The gears of the American economy have ground to a halt.”

Mr McConnell, the majority leader, said: “This is a proud moment for the United States Senate and the country and we’re going to win this battle.”

Senators have anticipated that the relief package will keep the US economy afloat for three months amid the worst of the coronavirus pandemic.